News

Zywicki Op-ed in Forbes

In an opinion piece in Forbes, Professor Todd Zywicki and
his co-authors Geoffrey Manne and Julian Morris argue for the repeal of the
Durbin Amendment.

“What has been the Durbin Amendment’s effects?
Two-and-a-half years after the Durbin Amendment’s implementation the evidence
is in: According to a new study weauthored for the International Center for
Law and Economics, we found that consumers are paying more and getting less as
a result of the Durbin Amendment, and that low-income consumers have suffered
the most. Moreover, while big box retailers have seen billions in savings in
lower interchange fees already, there is no evidence that they have
passed-through any of their windfall to consumers, nor have small businesses
benefited.”

How To Help The Unbanked? Repeal The Durbin Amendment, Forbes,
August 4, 2014. By Todd Zywicki, Geoffrey Manne & Julian Morris.